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Aug 19, 2013
08/13
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in detroit, it's speak now or forever hold your peace. today is the deadline for written objections to detroit's bankruptcy filing. wdiv's rod maloney is in the motor city with what's on the line. rod, good to have you. >> reporter: thank you, maria. i'm glad to be here. you know, it's one of the things where tonight at midnight, anybody who objects to the bankruptcy filing by the city has to do that. so, in fact, this morning, a large group of detroiters got together out in front of the bankruptcy court here, from the national action network, reverend al sharpton organization, and they started out filling paperwork and submitted it to the bankruptcy court today. it showed up in the filing. along with them were a lot of other creditors looking to try and derail this process. and what many people don't understand about municipal bankruptcy is that you can't just file and then you are in bankruptcy. it is a qualification process. and so, what they're doing here is they're making their objections known to the judge, telling him that they don
in detroit, it's speak now or forever hold your peace. today is the deadline for written objections to detroit's bankruptcy filing. wdiv's rod maloney is in the motor city with what's on the line. rod, good to have you. >> reporter: thank you, maria. i'm glad to be here. you know, it's one of the things where tonight at midnight, anybody who objects to the bankruptcy filing by the city has to do that. so, in fact, this morning, a large group of detroiters got together out in front of the...
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Aug 2, 2013
08/13
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outside detroit in the states and around the world. so the direct impact on the industry will be quite, you know, minimal, but the people that work for gm live in detroit and obviously that's an area of concern for us, but, you know, from the perspective of auto sales and the performance of the industry and its employment, you'll not see much of the impact if any. >> we'll leave it there. thank you so much. we'll see you soon. >>> coming up next, what does the earnings report mean for ben bernanke. former fed governor randall kroszner will give us his take. >>> then he was once the richest man. iky batista has lost some $33 billion in 16 months. we'll find out what happened. >>> then millions of time warner customers are less than an hour away from losing all cbs programming. 'll get the very latest. >>> plus, oscar-winning actor george clooney is not in the air when it comes to dan loeb, the activist investor. he's slamming dan loeb for what he sees as meddling in the sony movie business. stay with us. we'll be back in a moment. a tal
outside detroit in the states and around the world. so the direct impact on the industry will be quite, you know, minimal, but the people that work for gm live in detroit and obviously that's an area of concern for us, but, you know, from the perspective of auto sales and the performance of the industry and its employment, you'll not see much of the impact if any. >> we'll leave it there. thank you so much. we'll see you soon. >>> coming up next, what does the earnings report...
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Aug 5, 2013
08/13
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detroit may be starting that by hiring christie's to appraise the item at the detroit institute of art. cn cnbc's own robert frank joins us now with all of the art details. >> detroit's emergency manager hired christie's to assess the collection of the dia. the art is valued by many at over $1 billion. while there is no specific plan to sell the assets, the move was taken at the request of creditors. he said the city must know the current value of all of its assets, including the city owned check at the dia. orr's statement goes on to say there has never been nor is there now any plan to sell the art. this valuation as well as the valuation of other city assets is an integral part of the restructuring process. he said they will also advise the city on non-sale alternatives. not sure what that means. they will value works like this one, a van gogh portrait that could be worth over $100 million alone, it includes works of picasso, miguel. they say they will continue to folks on being as positive force for the city. this has been a huge controversy with some of the public pensions saying
detroit may be starting that by hiring christie's to appraise the item at the detroit institute of art. cn cnbc's own robert frank joins us now with all of the art details. >> detroit's emergency manager hired christie's to assess the collection of the dia. the art is valued by many at over $1 billion. while there is no specific plan to sell the assets, the move was taken at the request of creditors. he said the city must know the current value of all of its assets, including the city...
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Aug 9, 2013
08/13
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. >> it's in detroit, i think. >> they definitely control a lot of supply. in the same vein, the mining space, material space, look at the moves they've had over the last couple days. not necessarily inspired by the chinese data over the last two days. it was good. it showed stabilization. but it didn't tell you to run out and buy every mine. you've seen a lot of short covering. if you look at the chart on cleveland clinic, it has a broken trend back to july of 2011. again, you're seeing ore prices move a little bit higher. their cash costs, margins have gone down. they're very, very levered to the price of iron ore. if it goes any higher, you go with that. walter energy had a restructuring of a lot of debt. that is also why you're playing this one, not because they're going to the -- >> it's been materials this week, miners. nice action this week. newcore s, u.s. steel, all of these up. so would you buy into this? >> josh and i, we had a street fight a couple weeks ago about u.s. steel. >> go ahead. >> trading 17 1/4. we talked about exactly this type of si
. >> it's in detroit, i think. >> they definitely control a lot of supply. in the same vein, the mining space, material space, look at the moves they've had over the last couple days. not necessarily inspired by the chinese data over the last two days. it was good. it showed stabilization. but it didn't tell you to run out and buy every mine. you've seen a lot of short covering. if you look at the chart on cleveland clinic, it has a broken trend back to july of 2011. again, you're...
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Aug 29, 2013
08/13
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detroit making way for american-made autos. >>> is there real money to be made in music? we're going on crank up the music, when we come back. ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today. is. >>> let's talk some ford, right? it says it is going to add 1400 american jobs. >> let's break out the air dancer. ford saying -- here you go -- all american air dancer. ford says it's part of a plan to bring 12,000 hourly jobs back to the u.s. by the year 2015. phil lebeau, you're jumping forward. i know you've been in flat rock, michigan all day long. i know our colleagues at cnbc doing great things here. sa is all of ford leaving mexico, just part? what's the story? >> the story is this is part of an expansion here in the united states. 1400 jobs being added at the flat rock plant, a second shift. half of ford's plants in the united states will be running on three shifts. so you're talking about greater efficiency at its plan
detroit making way for american-made autos. >>> is there real money to be made in music? we're going on crank up the music, when we come back. ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today. is. >>> let's talk some ford, right? it says it is going to add 1400 american jobs. >> let's break out the air dancer. ford...
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Aug 20, 2013
08/13
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look, here's my watch from detroit. >> me, too. >> i love it. a great watch. >> yeah, how old are you, bob? we all have watches, too. okay? >> okay, all right. >> ask the intern. >> i did try the google glasses, though, whether they were down here. the google guys. you're right, maria, an awful lot going on. that one i'm having a hard time getting used to. i love my shinola. crummy 6% gain in the s&p 500. it's the best day since august 1st, believe it or not. that's how tough things have been. the emerging markets are a little calmer today. that may be helping stocks and bonds, up here in the united states. a little bit of flight to safety. it is again light volume. bear that in mind. we'll get more news flow, thank you, tomorrow, the home sales and fomc minutes will be out. people keep asking me, should i get out of emerging markets? can i point out, attempts at bottoming in china and brazil, over a month ago. china is up this month. brazil is up. and a lot of economic flow news out of china that's notably better. a lot of internet stuff playin
look, here's my watch from detroit. >> me, too. >> i love it. a great watch. >> yeah, how old are you, bob? we all have watches, too. okay? >> okay, all right. >> ask the intern. >> i did try the google glasses, though, whether they were down here. the google guys. you're right, maria, an awful lot going on. that one i'm having a hard time getting used to. i love my shinola. crummy 6% gain in the s&p 500. it's the best day since august 1st, believe it or...
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Aug 19, 2013
08/13
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not in detroit they didn't. and those are the ones that ultimately have their hands on that crumbling city. i give rick snyder credit, the governor there, for standing up and saying we've got to do something about this. >> and you think the objections from 30 municipal unions, which is no surprise, you think that's going to work or is this going to be thrown out? >> no, i think in the end it's going to be thrown out. you've got to he can power the taxpayers to be in charge. >> we've got a million other questions about this and other things on the other side of the break. please stay with us. governor scott walker of wisconsin will be here. hero: if you had a chance to go anywhere in the world, but you had to leave right now, would you go? man: 'oh i can't go tonight' woman: 'i can't.' hero : that's what expedia asked me. host: book the flight but you have to go right now. hero: (laughs) and i just go? this is for real right? this is for real? i always said one day i'd go to china, just never thought it'd be toda
not in detroit they didn't. and those are the ones that ultimately have their hands on that crumbling city. i give rick snyder credit, the governor there, for standing up and saying we've got to do something about this. >> and you think the objections from 30 municipal unions, which is no surprise, you think that's going to work or is this going to be thrown out? >> no, i think in the end it's going to be thrown out. you've got to he can power the taxpayers to be in charge. >>...
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Aug 16, 2013
08/13
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for corvette, once it came out with the new stingray and unveiled at the detroit auto show, immediately, people said huge improvement with the interiors. that is what gm is expecting will bring more people in the showrooms. always one of those cars that gives you great bang for the buck, now saying it has the styling and performance to match what the german automakers put out. quickly take a look at general motors the last couple of years. keep in mind, maria, there was a time when gm was in bankruptcy, they scrapped plans to come out with a new stingray, new corvette. obviously, that has changed. rolling into showrooms later this year. maria? >> wow. that is hot. 3.8 seconds, a gorgeous car. let me ask you guys a subtle question, i don't know if you heard what i asked the car earlier there is a study out that says people who drive expensive cars are the biggest jerks on the road and they put bmw at the top. do you think bmw drivers are jerks? >> no. what do you want me to say, maria? i don't think so. robert? >> keep in mind, prius drivers, i think prius drivers were either at the top
for corvette, once it came out with the new stingray and unveiled at the detroit auto show, immediately, people said huge improvement with the interiors. that is what gm is expecting will bring more people in the showrooms. always one of those cars that gives you great bang for the buck, now saying it has the styling and performance to match what the german automakers put out. quickly take a look at general motors the last couple of years. keep in mind, maria, there was a time when gm was in...
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Aug 1, 2013
08/13
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>> eric, i know you're joining us from detroit. a quick question regarding the sales for you guys, up more than 11%. but when you take a look at where trucks were, the real engine of your growth. are you seeing strength in one particular area of truck sales around the country, or is it pretty much across the board? >> it's pretty much across the board, phil. we are seeing some strength in some of the hotter housing markets, such as in california, new york and places like miami, but we're seeing truck strength really across the board. there really aren't any regions across the country that are down on trucks right now. >> while your truck sales were up 22.6%, i want to talk about the fusion, which is your top-selling car. sales down 12%. i know you were supply constrained because you were ramping up production at your flat rock assembly plant, but it brings up the question, did you leave some sales on the table last month? >> well, certainly if we had more inventory on some of our key vehicles like the fusion, we probably could have
>> eric, i know you're joining us from detroit. a quick question regarding the sales for you guys, up more than 11%. but when you take a look at where trucks were, the real engine of your growth. are you seeing strength in one particular area of truck sales around the country, or is it pretty much across the board? >> it's pretty much across the board, phil. we are seeing some strength in some of the hotter housing markets, such as in california, new york and places like miami, but...
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Aug 5, 2013
08/13
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. >> robert with the latest on detroit's art collection. now, about 45 minutes to go before the closing bell and dow is sitting down about 45 points. >> big news out of china. the government there reportedly considering its one-child-only policy -- or reconsidering, which could have a huge global economic impact. that story is next. >>> then, the street battle that seems to be targeting hedge fund bill ackman is heating up again. now, george's fund is involved and now ackman is throwing out accusations like insider trading. we'll get you the details on that. >>> and another hedge fund battle, the fallout after george clooney's harsh words for dan loeb saying wall street guys know nothing about the movie business, but who funds much of the movie business? we'll talk to a hollywood movie producer about where the movie money comes from and how much of it is from wall street. you may be surprised by those facts. [ male announcer ] come to the lexus golden opportunity sales event and choose from one of five lexus hybrids that's right for you, in
. >> robert with the latest on detroit's art collection. now, about 45 minutes to go before the closing bell and dow is sitting down about 45 points. >> big news out of china. the government there reportedly considering its one-child-only policy -- or reconsidering, which could have a huge global economic impact. that story is next. >>> then, the street battle that seems to be targeting hedge fund bill ackman is heating up again. now, george's fund is involved and now...
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Aug 14, 2013
08/13
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let's separate out detroit. is detroit teaching us anything? is there a prognosis for detroit? is there anything to be learned by muni investors based on the horrible detroit experience? >> well, i mean, detroit, i think that what it shows is obvious situations are, you know, an obvious thing to avoid. situations like detroit which has been coming for 50 years is really in the end an actual problem for the market. you know, it could have other effects. i think the governor's plan with respect to detroit is to set some kind of precedent to induce other cities in the state to file. i don't think that that's actually going to happen. filing for bankruptcy is probably one of the very worst things that can happen to a city. so it's hard to see. i've talked to a bunch of mayors. it's hard to see other cities and mayors wanting to follow detroit. nobody wants to be detroit, but as an investor, it just makes you think a little more clearly about what exactly it is you're buying and the kind of situation you are getting yourself into. >> all right. let's now jump into my own backyard. y
let's separate out detroit. is detroit teaching us anything? is there a prognosis for detroit? is there anything to be learned by muni investors based on the horrible detroit experience? >> well, i mean, detroit, i think that what it shows is obvious situations are, you know, an obvious thing to avoid. situations like detroit which has been coming for 50 years is really in the end an actual problem for the market. you know, it could have other effects. i think the governor's plan with...
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Aug 30, 2013
08/13
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. >> detroit is now the largest u.s. city to file for bankruptcy it cannot match it -- manages self. >> were at the end of the road. we can borrow any more money. john: detroit was -- now in such a wreck. >> for $1,500 you could buy this house. john: for years politicians promised that they would fix detroit. >> detroit show again become the great city that is its destiny. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves rich. john: is there hope for places like detroit? >> it will turn around the city of detroit. >> the motor city. this is will we
. >> detroit is now the largest u.s. city to file for bankruptcy it cannot match it -- manages self. >> were at the end of the road. we can borrow any more money. john: detroit was -- now in such a wreck. >> for $1,500 you could buy this house. john: for years politicians promised that they would fix detroit. >> detroit show again become the great city that is its destiny. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves...
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Aug 12, 2013
08/13
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new buildings so what does detroit we do to make it out of the bankruptcy? >> there's been a lot of great things happening and we have been involved with that over the last two or three years to invest in the city. private investment is that the l-time high. that is certainly difficult but it isong overdue that this hpened so we have to address the problems of this city in the bankruptcy is difficult but it is giving us the opportunity to deal with legacy issues to come out the other side. we have to get through the bankruptcy process and that will take time but as we look at this we're bullish on the straight that they have greatalance and great infrastructure to have our renaissance like it deserves gerri: great's information we appreciate you coming on. , back. >> my pleasure. i am happy to come back. gerri: a lot still to come how to turn your part-time job into full-time and the they are sending your kid to college but what about loans for day care? i am not kidding. we will talk about it. next. (announcer) at scottrade, our clients trade and invest exa
new buildings so what does detroit we do to make it out of the bankruptcy? >> there's been a lot of great things happening and we have been involved with that over the last two or three years to invest in the city. private investment is that the l-time high. that is certainly difficult but it isong overdue that this hpened so we have to address the problems of this city in the bankruptcy is difficult but it is giving us the opportunity to deal with legacy issues to come out the other...
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Aug 3, 2013
08/13
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riots in 1967 detroit and mayor young caused a white flight to sub suburb-ia and detroit is left with nothing but liberal democrats running it. it is what it is. any place in this country that has similar circumstances, the same fate is going to happen to them. now what was your other thing about poverty? >> poverty. lbj said the war on poverty, we're going to have legislation to try to eradicate. the poverty's growing. it's not getting better. there are a lot of people suffering. >> yeah, imagine that. and it's been the number one issue of the democrat party out of their mouths for well, since 1964 when lbj first started it. poverty percentage-wise the same number of people. in fact under obama it's gotten worse. four out of five american families are experiencing poverty. 9 million jobs have been lost. pardon me. since obama took office. 9 million. they're just gone. because of his policies. well, the arena ideas this is what the republican is not standing up. they're not pushing back. they're not articulating what is the opposite of this. and one of the things, i mean, you can poin
riots in 1967 detroit and mayor young caused a white flight to sub suburb-ia and detroit is left with nothing but liberal democrats running it. it is what it is. any place in this country that has similar circumstances, the same fate is going to happen to them. now what was your other thing about poverty? >> poverty. lbj said the war on poverty, we're going to have legislation to try to eradicate. the poverty's growing. it's not getting better. there are a lot of people suffering....
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Aug 6, 2013
08/13
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more likely to, that the fed begins to at least ease off an accelerator, where i'm sitting right out detroit, they're running monetary growth rate at 80 miles an hour, plus, bill. they'll decelerate. they have to. i'll stand by what you and i have talked about, the most aggressive fed easing, i will know in my lifetime as an investor, and that's been one of the key catalysts to why small-cap stocks are up over 200% from their march 2009 lows, and more recently, small-cap stocks are up 40% from the november 15th post-election l s lows, and that, i think, is really centered on aggressive fed policy. >> and, michael, the last time you were on, we talked about this so-called revenue recession we seem to be in here, where we're in another earnings period where the bottom line expectations have been met with revenue numbers not there now. >> the same old thing. revenue is still short. i will say, though, there's something very positive in the economic reports. i think bob pisani mentioned it earlier, and he had a note out this morning about this. that the trade deficit was surprisingly small, or s
more likely to, that the fed begins to at least ease off an accelerator, where i'm sitting right out detroit, they're running monetary growth rate at 80 miles an hour, plus, bill. they'll decelerate. they have to. i'll stand by what you and i have talked about, the most aggressive fed easing, i will know in my lifetime as an investor, and that's been one of the key catalysts to why small-cap stocks are up over 200% from their march 2009 lows, and more recently, small-cap stocks are up 40% from...
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Aug 10, 2013
08/13
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land in detroit right now is cheap. you can buy a house there if you want, but no one wants to right now. all right. so go elsewhere. >> all right. is part of the solution credit? >> i thought that was how we developed alaska, incentivizing people out there. but the government's had a role of developing this country. the private sector is strong enough now to handle the for profit housing market. there is a way to make money from a lot. there's all of these funds that are buying dilapidated properties. however, when you have a situation that's uneconomic where there is no free market solution, that's when it becomes the role of government. when you've got a house that's dilapidated, it's not going to go away if it's worth nothing like in detroit, for example. otherwise it's like a manmade disaster like a dust bowl. we have to fix up our own mistakes we made. >> okay. john, you've heard it all. >> frannie and freddie are going away, why aren't you celebrating? >> i was just in france, and, believe me, they like texan wea
land in detroit right now is cheap. you can buy a house there if you want, but no one wants to right now. all right. so go elsewhere. >> all right. is part of the solution credit? >> i thought that was how we developed alaska, incentivizing people out there. but the government's had a role of developing this country. the private sector is strong enough now to handle the for profit housing market. there is a way to make money from a lot. there's all of these funds that are buying...
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Aug 29, 2013
08/13
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here's a bright spot for the detroit economy. ford is expanding production at the flat rock, michigan, assembly plant just knot of the city because of the red hot sales of the ford fusion. phil lebeau joins us live from flat rock with more. >> kellly, right now they are announcing that the production has officially begun here for the fusion at the flat rock plant. ford is adding 1400 new workers. most of them are already hired. they've already been trained because production is starting right now, today. those 1400 workers means that ford has now hired or now has employment totaling 69,000 here in north america. and think about this. half of ford's plants in the united states and north america, they are now running three shifts. why are they running three shifts? to keep up with demand. ford's u.s. sales in the year to date up 13%, just under that, 12. %. the industry by comparison up by 8.5%. and for ford and the fusion, in some markets, the day supply is down to 12 to 15 days whereas a typically would like to have 65 days suppl
here's a bright spot for the detroit economy. ford is expanding production at the flat rock, michigan, assembly plant just knot of the city because of the red hot sales of the ford fusion. phil lebeau joins us live from flat rock with more. >> kellly, right now they are announcing that the production has officially begun here for the fusion at the flat rock plant. ford is adding 1400 new workers. most of them are already hired. they've already been trained because production is starting...
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Aug 19, 2013
08/13
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. >>> a deadline looming in the detroit bankruptcy case. any objections to the city's bankruptcy filing have to be filed by 11:59 p.m. eastern time tonight. so far the only ones who filed legal objections have been former city workers. a court hearing to determine if detroit can file for chapter 9 bankruptcy is scheduled for late october. i know joe has been working on his filing. >> on what? >> bankruptcy filing? >> eventually. >> in dodd-frank. barry is here. we can ask him. >> did you read that? >> you have an idea. >> you must love that. >> where are we in terms of i don't know how you want to measure it? baseball games. >> 50 years. >> in terms of what's written? >> yes, but some people would say that the 50% that is not done is a horrible piece. >> we've also gone from 800 pages to 9,000 pages to get halfway done? >> exactly. >> and it was a 2010 law, and then you have obama care, the other big piece of legislation. 60 or 70%. >> two crappy weeks we're coming off. how bad it was. let's get some outlooks from our panel. joining us now
. >>> a deadline looming in the detroit bankruptcy case. any objections to the city's bankruptcy filing have to be filed by 11:59 p.m. eastern time tonight. so far the only ones who filed legal objections have been former city workers. a court hearing to determine if detroit can file for chapter 9 bankruptcy is scheduled for late october. i know joe has been working on his filing. >> on what? >> bankruptcy filing? >> eventually. >> in dodd-frank. barry is here....
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we should compare chicago of today to detroit of today, we should prepare chicago today to detroit of 20, 30 years ago and this is the fulcrum point for this mayor. is he going to take on the public employee unions, nine out of ten city workers are unionized? his political power comes from the unionized work force. the trick the mayor is, how does he take down his political face and cut expenditures and 78% of the budget spending. >> right, i want your judgment because he's got to get, i mean, serious concessions from those unions. he just got to do it otherwise, they're -- i mean, they really are in deep trouble. so, my question. >> right. stuart: can he do it? could he get the concessions from his own base and get them to give back a ton of money? can he do it? >> i think he can get some of it. he's going to try to convince the union leaders and rank and file that they have to take a hair cut and never get enough money from the state of illinois, from the country and the federal government is also broke and there's just no money and no appetite for a bailout of chicago let alone det
we should compare chicago of today to detroit of today, we should prepare chicago today to detroit of 20, 30 years ago and this is the fulcrum point for this mayor. is he going to take on the public employee unions, nine out of ten city workers are unionized? his political power comes from the unionized work force. the trick the mayor is, how does he take down his political face and cut expenditures and 78% of the budget spending. >> right, i want your judgment because he's got to get, i...
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it is interesting because we do look and say it for the detroit. i don't think people realize they are sitting on something very similar. >> this is something that is going to happen in cities and states all across america. what we see in detroit is a precursor for the fiscal calamities that are going to occur because of unsustainable pensions and unaffordable health care costs. these have added up and we will have to pay for it one way or the other. liz: we are talking about is pensions, what we haven't talked about are the health benefits owed to government workers. i think the american people, the viewers think of themselves we are and are breaking point with property taxes and we won't pay for necessities have to merge with each of the. we are seeing that in california where cities are merging to take care of the cost of urban sprawl which is too expensive and doesn't work. >> these costs of course are not going away no matter how you restructure its things and you're absolutely right. when it comes to health care costs the unfunded liability f
it is interesting because we do look and say it for the detroit. i don't think people realize they are sitting on something very similar. >> this is something that is going to happen in cities and states all across america. what we see in detroit is a precursor for the fiscal calamities that are going to occur because of unsustainable pensions and unaffordable health care costs. these have added up and we will have to pay for it one way or the other. liz: we are talking about is pensions,...
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Aug 8, 2013
08/13
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you want to see detroit's problem, look at this graph. in 1950, there were almost 2 million people in detroit, 2 million. now that number is down to around the 700,000, which means, when your city is shrinking like that, you end up with an eroding tax base. incapable, completely unable to pay off the pension costs that were incurred. and also not just pensions, but city services, infrastructure, all of it. in comparison, over that same period of time, new york has seen its population grow by more than half a million people, it's not been detroit. and another thing, detroit's economy has been nothing short of catastrophic. according to the city's own bankruptcy court declaration, the city lost approximately 80% of its manufacturing base. new york's economy by contrast has been booming. booming under bloomberg for better or worse. the key industry finance remains atop the world. one factor is that the fact that the city remains utterly and unbelievably racially segregated. this is a map of detroit, with dots corresponding for neighborhoods.
you want to see detroit's problem, look at this graph. in 1950, there were almost 2 million people in detroit, 2 million. now that number is down to around the 700,000, which means, when your city is shrinking like that, you end up with an eroding tax base. incapable, completely unable to pay off the pension costs that were incurred. and also not just pensions, but city services, infrastructure, all of it. in comparison, over that same period of time, new york has seen its population grow by...
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Aug 1, 2013
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foods runs to detroit. what a great american company. >> you do forget, i think, seven, what is it, we say 75, some of these stores are more than a decade old, jim. >> the new stores are doing exactly what they want and that's still remarkable growth. chicago po chipotle and starbucks, a pantheon of people behind the scenes and they all talk to each other and whole foods needs to do a credible infinity program not unlike what starbucks has, they'll do it. but this quarter there was a guy that said, listen, i was at your -- really kind of funny. a new guy, identify was at your des moines store and that was not a good store. they come right back, have you been to our, mentioned the oxnard store. there was such an timothy, it's not like they are idiots. they're the best operators there is! and the people were, like, you know, slamming them, will you give me a break! give me a break! >> okay, i will. i'm happy to give you a break when you want one. >> thank you. i felt there was a lack of respect on this call,
foods runs to detroit. what a great american company. >> you do forget, i think, seven, what is it, we say 75, some of these stores are more than a decade old, jim. >> the new stores are doing exactly what they want and that's still remarkable growth. chicago po chipotle and starbucks, a pantheon of people behind the scenes and they all talk to each other and whole foods needs to do a credible infinity program not unlike what starbucks has, they'll do it. but this quarter there was...
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Aug 7, 2013
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. >>> plus, is the detroit bankruptcy just the beginning? we'll take a look at state and local governments to see who might be the next bankruptcy and where it might be coming. is your city next? >>> first up, as we told you a few moments ago, the president cancelling a summit with vl vladimir putin over the treatment of edward snowden. eamon javers is live in washington with the latest. >> carl, just within the past few minutes or so, the white house has put out a statement saying that the president now that he's got some time to kill while he's over in europe is going to visit sweden which the white house calls a close friend and partner and obvious jab at russia. the white house saying this morning that the president is not going to participate in this planned summit with vladimir putin, the russian president. he is, however, going to go to the g-20, that's in st. petersburg, russia. he's not going to have that moscow meeting with put putin, however. among the reasons was the decision to give edward snowden asylum in russia. here is the w
. >>> plus, is the detroit bankruptcy just the beginning? we'll take a look at state and local governments to see who might be the next bankruptcy and where it might be coming. is your city next? >>> first up, as we told you a few moments ago, the president cancelling a summit with vl vladimir putin over the treatment of edward snowden. eamon javers is live in washington with the latest. >> carl, just within the past few minutes or so, the white house has put out a...
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Aug 29, 2013
08/13
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implications for detroit, a judge ruled the city of san bernardino is okayed for chapter 9. the biggest issue is pension costs, accounting for about 80% of its annual budget. at a nationwide strike of fast food workers is set for today. workers calling for higher wages. that's what this strike is all about. organizers are pushing for pay of $15 an hour, that's more than double the federal men mum wage of $7.25. joe. >> if you then said, okay, a third, we'll do that, but 40% of you will no longer have that. >> we're talking about. >> down that will work? if you said, okay, we'll do that, but only 40% of you will no longer have the job. >> i think they will be very unhappy. >> they'd say no, never mind. up next, currency itself, a rare studio appearance by bori boris schlassberg. it would be weird that someone mentioned we could be ike and tina. >> i was trying to keep that off if shelf. >> what investors can expect in september. "squawk box" will be right back. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can a
implications for detroit, a judge ruled the city of san bernardino is okayed for chapter 9. the biggest issue is pension costs, accounting for about 80% of its annual budget. at a nationwide strike of fast food workers is set for today. workers calling for higher wages. that's what this strike is all about. organizers are pushing for pay of $15 an hour, that's more than double the federal men mum wage of $7.25. joe. >> if you then said, okay, a third, we'll do that, but 40% of you will no...
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Aug 3, 2013
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take your pick. >> detroit, you have to analyze what really happened there. why did it go wrong? now, there are obvious things. the city what's been run by democrats unchecked since the last republican mayor was 1957. okay? you've had -- that town has been a petri dish of everything the democrat party stands for, everything the democrat party loves. massive unions, massive pensions. pay people pensions and health care long after they've stopped working. the math doesn't add up. you have massive welfare states where citizens are given things left and right in order to buy their votes. you have no opposition whatsoever. then in the case of -- you throw race into the mix and you bring on mayor coleman young who causes riots in 1967 in detroit and mayor young calls a white flight to suburbia and detroit is left with nothing but liberal democrats running it. it is what it is. and anyplace in this country that has similar circumstances, the same fate is going to happen to them. poverty was the other thing? >> poverty. lbj said the war on poverty. we'll have legislation to try to eradic
take your pick. >> detroit, you have to analyze what really happened there. why did it go wrong? now, there are obvious things. the city what's been run by democrats unchecked since the last republican mayor was 1957. okay? you've had -- that town has been a petri dish of everything the democrat party stands for, everything the democrat party loves. massive unions, massive pensions. pay people pensions and health care long after they've stopped working. the math doesn't add up. you have...
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Aug 30, 2013
08/13
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like markets, it's been a rough couple months for detroit, but superman is on the way. we'll explain what we mean by that when we come back. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patien
like markets, it's been a rough couple months for detroit, but superman is on the way. we'll explain what we mean by that when we come back. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win...
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Aug 12, 2013
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. >> it's easy owe make will call because munis got hurt on the detroit concern. is that an issue we'll see further problems with other municipalities down the road? >> that's a great point, bob. i think you'll see more complicated issues per state, but those are the ones where, you know, a good portfolio manager is going to look and say what are the revenues and tax revenues that will always be there? we'll be in our cars and rvs passing through turn pikes. >> you betcha. >> but it's an important point, and also to your point about china just getting back to the global markets. you're looking at a pe ratio going forward in the capital markets in europe about 12 to 13 times versus the united states which are approaching 14, 15 times so we're getting to be a little better value outside this country and a big contrarian indicator for portfolio workers. so having the "wall street journal" say emerging markets may have lost their luster, on the flip side i think there may be better values. >> appreciate it, j.j. burns. ty, up to you. >> general motors saying so long t
. >> it's easy owe make will call because munis got hurt on the detroit concern. is that an issue we'll see further problems with other municipalities down the road? >> that's a great point, bob. i think you'll see more complicated issues per state, but those are the ones where, you know, a good portfolio manager is going to look and say what are the revenues and tax revenues that will always be there? we'll be in our cars and rvs passing through turn pikes. >> you betcha....
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Aug 12, 2013
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we just opened a store in detroit. a regional store in new york and tribeca, and business is off the chart. liz: if you were to be talking to business leaders at a meeting, what would you say to convince them to do business in detroit? what of the positives? >> the committee is very interested in moving forward. the path is the past. everyone in the business community is set on moving forward and making this a better place to be. we found everyone to be wildly helpful and really helpful in our success. ashley: what about the tax point of view. part of the problem was the taxes went up to try and pay for more services. when they left, when half the town left that tax revenue went down. so from a tax point of view or incentives, what can detered offer companies that other states are now offering, such as wisconsin and indiana that a cherry picking companies as we speak from detroit? how do you stop that process? >> it is hard for me to comment because our business model was not predicated on receiving tax benefits. ashle
we just opened a store in detroit. a regional store in new york and tribeca, and business is off the chart. liz: if you were to be talking to business leaders at a meeting, what would you say to convince them to do business in detroit? what of the positives? >> the committee is very interested in moving forward. the path is the past. everyone in the business community is set on moving forward and making this a better place to be. we found everyone to be wildly helpful and really helpful...
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Aug 5, 2013
08/13
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policy in detroit. but sadly, it's not the only municipality in trouble. a lot of state and local governments have too much debt, too generous public pensions. we need a national conversation on how to fix this. >> how do we do it without being completely heartless, though, leaving people promised things for decades and decades, that this would be here for them? how do do you that without reneging on every social promise? >> one is promises to tax services, with sun retirees an employees the other to bond holders. all of these are promises. when we promise more than we can deliver, we have to renegotiate. at the federal level, we need policies to encourage state and local governments, so you don't lie about the future. >> then the picture will look lot worse, based on what i have seen, a lot of articles written recently about what will show up when we do correct the accounting that's been glossing things over for a long time. >> yes, it's not an impossible situation. if we had more reasonable economic g
policy in detroit. but sadly, it's not the only municipality in trouble. a lot of state and local governments have too much debt, too generous public pensions. we need a national conversation on how to fix this. >> how do we do it without being completely heartless, though, leaving people promised things for decades and decades, that this would be here for them? how do do you that without reneging on every social promise? >> one is promises to tax services, with sun retirees an...
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Aug 12, 2013
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>> hie, yeah, charles, on the detroit thing, because i'm from detroit, i'm in detroit. i have to say one thick about that check. yes, we know that was a big mistake, one million in the drawer, you know, kind of like the 13 billion dollars that went poof in the bush administration in iraq. >> nancy, come on. nancy. >> you know, what was not breaking news, what was not national news is we had an election, a mayor primary, the election last week, and in the city of 80% black population, a white guy, a write-in won, a guy who turned around eight hospitals, mike dougin won in a city of 80% african-american people. why is that not big news? that, you know, somebody because of the fiscal abilities was elected by the people of detroit, so to just say go back to the old, oh, a check missing in the drawer. >> in reality, though, to talk about fixing anything, i don't care what it is, an alcoholic or whatever it is, first and foremost, admit you have a problem. i think you, to a certain problem did that by electing someone that may be the city might not have elected before. this i
>> hie, yeah, charles, on the detroit thing, because i'm from detroit, i'm in detroit. i have to say one thick about that check. yes, we know that was a big mistake, one million in the drawer, you know, kind of like the 13 billion dollars that went poof in the bush administration in iraq. >> nancy, come on. nancy. >> you know, what was not breaking news, what was not national news is we had an election, a mayor primary, the election last week, and in the city of 80% black...
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Aug 8, 2013
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i got a long layover in detroit. i put four episodes of "breaking b bad" on my ipad and plan to watch it. later on this afternoon, lions' gate, monster beverage and priceline among others. some of the nation's retailers will report their monthly sales today. limited, gap and costco are among the biggest ones that still do. earlier this morning, real early, costco said its july comps rose 4%, just shif analysts' expectations. hurt by a stronger dollar that pulled in weak sales from overseas stores. >> jpmorgan says it is being investigated by criminal and civil divisions of the department of justice over offerings of mortgage-backed securities this is financial crisis stuff. the doj gave them notice that it had preliminarily concluded the firm violated federal security laws in offerings of subprime and alt-s a residential mortgage securities. the only thing that is bugging me about this story a lot is jpmorgan, and don't want to -- i don't feel like i need to be the defender of jpmorgan, i came to jamie dimon's defens
i got a long layover in detroit. i put four episodes of "breaking b bad" on my ipad and plan to watch it. later on this afternoon, lions' gate, monster beverage and priceline among others. some of the nation's retailers will report their monthly sales today. limited, gap and costco are among the biggest ones that still do. earlier this morning, real early, costco said its july comps rose 4%, just shif analysts' expectations. hurt by a stronger dollar that pulled in weak sales from...
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Aug 9, 2013
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i bring this up because ohio and neighboring michigan has had all of these issues when it comes to detroit and funding its own system. in ohio i think you're somewhat underfunded. i think cnbc found you're in one of the positions they would be more worried about long term. isn't that to some degree pressing? >> i think they're both pressing. i think advocating for more transparency in government is important. to your point, the unfunded liabilities not just in ohio but nationally, it's an entirely different and i believe problem to a higher magnitude. we have to bear down as state treasures and governors and legislatures and have a conversation nationally about how to attack this problem. one of the main issues is that the rules the private sector has to live by are different from the rule the public sector lives by, and if we can apply more private sector accounting and private sector management to the government sector, i think these pension funds would be more healthy. the state treasurer in colorado has been very active on this. he's been working on congress to bring more transparency
i bring this up because ohio and neighboring michigan has had all of these issues when it comes to detroit and funding its own system. in ohio i think you're somewhat underfunded. i think cnbc found you're in one of the positions they would be more worried about long term. isn't that to some degree pressing? >> i think they're both pressing. i think advocating for more transparency in government is important. to your point, the unfunded liabilities not just in ohio but nationally, it's an...
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Aug 9, 2013
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just two weeks after detroit declared bankruptcy, borrowing costs are up around the state. the latest casualty, yesterday's saginaw county announced it was delaying a $60 million bond sale that was planned for today. gentlemen, this is the concern that so many people have been wo worried about, this would have ripple effects through michigan and if a federal court approves this, throughout the rest of the country. >> the question for me at least is the answer that the state is supposed to get involved in a more meaningful way, the federal government? we talked about are you supposed to have a bailout? we know that there is going to be implications from doing this. but -- >> yes, but particular -- >> the flip side is a dangerous game too. >> but particular implications because the bond holders are being put at the back of the line with everybody else. they're being treated as unsecured creditors. that changes the game. this is something that the governors signed off on, the guy who is in charge of the city of michigan and the city of detroit now has signed off on and that ha
just two weeks after detroit declared bankruptcy, borrowing costs are up around the state. the latest casualty, yesterday's saginaw county announced it was delaying a $60 million bond sale that was planned for today. gentlemen, this is the concern that so many people have been wo worried about, this would have ripple effects through michigan and if a federal court approves this, throughout the rest of the country. >> the question for me at least is the answer that the state is supposed to...
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Aug 19, 2013
08/13
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they are saying is detroit really bankrupt? >> there are a lot of people who will take issue with what detroit is trying to do. it is important to remember before they got here. they are responsible for their own on doing. until a couple years ago, if you are a public safety official in detroit, you could retire at 55 with 80% of your salary and health care. this is the day of reckoning. it is important that this be done right. this is the first city that is trying. dagen: that raises the issue. so many others have been thrown up their. those cities would not act, with day, jason, until it is clear that detroit can do this. >> that is why it is so important here. they are saying that this violates the constitution. you cannot reduce benefits for retirees. that violates the state constitution. what some of us are hoping is these contracts can be renegotiated. if they get away with protecting retiree benefits through this chapter nine filing, what you will see is other cities using chapter nine. we do not want it to happen. that
they are saying is detroit really bankrupt? >> there are a lot of people who will take issue with what detroit is trying to do. it is important to remember before they got here. they are responsible for their own on doing. until a couple years ago, if you are a public safety official in detroit, you could retire at 55 with 80% of your salary and health care. this is the day of reckoning. it is important that this be done right. this is the first city that is trying. dagen: that raises the...
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Aug 19, 2013
08/13
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not happy with the detroit bankruptcy filing. they need to speak up today or hold their peace. holding back financial aid to egypt. do we need to cut off all of the money going to that country? a raspberry instead of blackberry. the movie about steve jobs came in second at the box office over the weekend. listen to this. some wood off to lease themselves rather than till death do us part.
not happy with the detroit bankruptcy filing. they need to speak up today or hold their peace. holding back financial aid to egypt. do we need to cut off all of the money going to that country? a raspberry instead of blackberry. the movie about steve jobs came in second at the box office over the weekend. listen to this. some wood off to lease themselves rather than till death do us part.
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Aug 15, 2013
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new york citnew york city to bee fate as detroit. dealing with the pension and health care cost that has mayor bloomberg calling the risk of a bankruptcy a real concern. connell: david lee miller joins us. >> consider this, detroit is the largest u.s. city to ever declare bankruptcy. up to $18 billion. a little more than three months time. they will elect a new mayor, just days ago mayor bloomberg had his words reverberated around new york. >> bloomberg says pension and health care cost contributing to the financial ruins threaten the economic stability. most new york city employees and retirees pay nothing for $6.3 billion in annual health insurance. workers pay little for pension that have taxpayers on the hook for $8 billion this year. spiegel in your city has 10,000 police officers retired were for under 40 and clayton pensions and they will collect the pensions for the rest of their lives. >> expired at least three years ago, the next mayor will be under pressure to win concessions. >> the unions have tried to wait it out. putti
new york citnew york city to bee fate as detroit. dealing with the pension and health care cost that has mayor bloomberg calling the risk of a bankruptcy a real concern. connell: david lee miller joins us. >> consider this, detroit is the largest u.s. city to ever declare bankruptcy. up to $18 billion. a little more than three months time. they will elect a new mayor, just days ago mayor bloomberg had his words reverberated around new york. >> bloomberg says pension and health care...
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Aug 13, 2013
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and, you know, in order to talk about the muni market, we have to discuss detroit a bit. then we have to move towards chicago and illinois. that didn't have a good day in the market yesterday. or new york which today isn't having a good day. to understand munis, you have to have a muni guy. i'm going to bring my guy, my muni guy, matt fabian. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of tal
and, you know, in order to talk about the muni market, we have to discuss detroit a bit. then we have to move towards chicago and illinois. that didn't have a good day in the market yesterday. or new york which today isn't having a good day. to understand munis, you have to have a muni guy. i'm going to bring my guy, my muni guy, matt fabian. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to...
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detroit needs help. neil: you don't top go there, i got it -- you don't want to go ere i got it. >> i can do it from here. neil: mel car karmazin, a pleas, we know you don't do did that often so thank you we appreciate it. >> thank you. neil: that independent thinking short supply my friend, maybe reason whyear in the deep poop we are in, we'll have more. [ heart beating, monitor beeping ] woman: what doou mean, homeowners insurance doesn't cover floods? [ heart rate increases ] man: a few inches of water caused all this? [ heart rate increases ] woman #2: but i don't even live near the water. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts as low as $129 a year. for an agent, call the number that appears on your seen. neil: we're saying we're due for their dip? >> i'm not suggestions we're due for a dip, i am just suggestions that kumbaya that i'm hear with reference is single housing market will not withstand the test of time. >> people
detroit needs help. neil: you don't top go there, i got it -- you don't want to go ere i got it. >> i can do it from here. neil: mel car karmazin, a pleas, we know you don't do did that often so thank you we appreciate it. >> thank you. neil: that independent thinking short supply my friend, maybe reason whyear in the deep poop we are in, we'll have more. [ heart beating, monitor beeping ] woman: what doou mean, homeowners insurance doesn't cover floods? [ heart rate increases ]...
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jobs by paying people to bulldoze houses like this and four years later they have not done it but now detroit is talking about doing this. >> thank goodness it is a shame we did not do it for years ago when we were really in the pits in recent of tired people directly off the unemployment roll electricians are carpenters to go in to do something important. not just turning down the refuse of places of drug addicts a and bad urban blight but we could have put those properties back on the tax roll at the same time we create real jobs. i beg the administration and to do it not even a blank. nothing. nothing at all. it was a good idea it still is a good idea to take interest to restore our country to where they can be proud of the neighborhoods. liz: is there another guitry tidying? chicago is not the next eight troy but some people say there are some cities. >> there are some that have some of the same problems mostly unfunded pension obligations to retired police and firemen and city and county workers and it is a problem waiting to happen. >> at what point on the glove does it worry you right
jobs by paying people to bulldoze houses like this and four years later they have not done it but now detroit is talking about doing this. >> thank goodness it is a shame we did not do it for years ago when we were really in the pits in recent of tired people directly off the unemployment roll electricians are carpenters to go in to do something important. not just turning down the refuse of places of drug addicts a and bad urban blight but we could have put those properties back on the...
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Aug 12, 2013
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the fbi arrested the doctor last week and raided several of his offices in the detroit area. investigators say he gave chemo to patients who did not need and it diagnosed people with cancer when there were no signs of cancer. a judge is set to decide whether to grant bail at hearing tomorrow. laura is live in our new york newsroom. >> enough to make your head spin, if all of these allegations are true. aside from giving patients costly chemo treatments, federal investigators say dr. fata ordered assistants to 'provide the treatment and if patients got nervous he prescribed them xanax. he was ordering chemotherapy for all end of life patients instead of letting the patients die in peace. an oncology nurse who applied for a job with dr. fa a filed a claim that she witnessed treatments that should have lasted minutes dragging on for hours. >> why didn't they do anything? that was three years ago. and in that time, how many people could have been saved and how many families could have been spared? >> if convicted on current charges. fata could get ten years in prison. a spokesman
the fbi arrested the doctor last week and raided several of his offices in the detroit area. investigators say he gave chemo to patients who did not need and it diagnosed people with cancer when there were no signs of cancer. a judge is set to decide whether to grant bail at hearing tomorrow. laura is live in our new york newsroom. >> enough to make your head spin, if all of these allegations are true. aside from giving patients costly chemo treatments, federal investigators say dr. fata...
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chicago and detroit? i spent time in both places, anybody who have been to those places say chicago's nothing like detroit, and look at the reasons that it actually doesn't make sense they would be on the same path. chicago, different city than detroit in that there's a strong tax base, a growing population. detroit's population, you know, famously has slunk dramatically. there's companies moving into town, boeing recently relocated its corporate headquarters here, and it's also a multiindustry city, not like detroit with a single industry that drives the town, but here's how they are the same. pensions, it comes down to pensions. municipal pensions. chicago has four pension funds, short about $20 billion. they got a budget deficit of about three-quarters of a million dollars. moody's downgrade the the city, and it's not going to get better as time goes on. in 2015, a new state law requires even more to be put into the pension funds, and that could cause property tax increase of maybe a hundred to 150%. a
chicago and detroit? i spent time in both places, anybody who have been to those places say chicago's nothing like detroit, and look at the reasons that it actually doesn't make sense they would be on the same path. chicago, different city than detroit in that there's a strong tax base, a growing population. detroit's population, you know, famously has slunk dramatically. there's companies moving into town, boeing recently relocated its corporate headquarters here, and it's also a multiindustry...
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dagen: i am a daily reader of the detroit free press. it was last week you ran article about some of the things that were bothersome like car loans, the terms are getting longer. why is that disturbing? why should we be concerned about that? >> a couple things to keep an eye on to make sure they don't get out of whack and one of the ms. this 72 month, six your car loan accounted for 30% of sales in july. that is a long time supporting higher sales prices for cars. the average car costss$28,000. that is good but if people are stuck in loans that are so long that the car's worth less than they owe that is a problem. dagen: one last thing. how do people in default if the elected a bankruptcy filing? talking about how great car sales are but how are the folks doing? >> it is a mixed picture. there is nervousness, there is a feeling that a lot of this had to happen, it was inevitable and the future is better but how we get from here to the future is an uncharted road. dagen: thanks for being here, you're welcome back anytime, taught cars all
dagen: i am a daily reader of the detroit free press. it was last week you ran article about some of the things that were bothersome like car loans, the terms are getting longer. why is that disturbing? why should we be concerned about that? >> a couple things to keep an eye on to make sure they don't get out of whack and one of the ms. this 72 month, six your car loan accounted for 30% of sales in july. that is a long time supporting higher sales prices for cars. the average car...
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back at hopme, detroit's mayor said no thanks to a second term. top contenders are hoping that a runoff after tuesday's primary will get them on their way to city hall. >> good morning from don berwick for governor headquarters. now, here's chuck todd. >> thank you to the massachusetts gubernatorial cabinet don berwick and his campaign volunteers. keep it coming, folks. republican, democrat alike. go to rundown.msnbc.com, find out how. ariel castro will be sentenced today. he's already pleaded guilty to more than 900 charges in the kidnapping and systemic abuse of three women over the course of a decade. at times, however, it may feel more like a criminal trial. both sides do plan to present evidence and we will hear from some witnesses. what's more, we're going to hear from castro himself and possibly one of the female victims. castro has admitted to kidnapping gina dehay sus, amanda berry and michelle knight. among the charges are two counts of aggravated murder. after castro forced one of the women to miscarry. we're going to go live to clevela
back at hopme, detroit's mayor said no thanks to a second term. top contenders are hoping that a runoff after tuesday's primary will get them on their way to city hall. >> good morning from don berwick for governor headquarters. now, here's chuck todd. >> thank you to the massachusetts gubernatorial cabinet don berwick and his campaign volunteers. keep it coming, folks. republican, democrat alike. go to rundown.msnbc.com, find out how. ariel castro will be sentenced today. he's...
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Aug 2, 2013
08/13
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>> steve: i'm doing better than detroit. detroit should have seen this coming. when you spend lots more on your outgo than your income, that will be your downfall, to quote you. >> detroit had a real serious maybe terminal case of cranial rectumitis. that's a technical term. in 1954, a little half breed indian woman who was born on a reservation southeast of oklahoma never had more than a second grade education issue never had a bank account, but she pulled her grandson to her and put her arms around him and said, listen, larry wayne, she handed him a 5-dollar bill. she said, you take good care of that and don't spend that like a fool because it may be the last one i ever get to give you. she had been through the depression and knew banks would close. she never had a bank account or credit card. never yet wrote a check in her life. she paid her bill every saturday morning after my grandfather gave her his check from sinclair oil company on friday afternoon. she told me, don't you ever forget this, as she handed me that five. when your outgoing exceeds your incom
>> steve: i'm doing better than detroit. detroit should have seen this coming. when you spend lots more on your outgo than your income, that will be your downfall, to quote you. >> detroit had a real serious maybe terminal case of cranial rectumitis. that's a technical term. in 1954, a little half breed indian woman who was born on a reservation southeast of oklahoma never had more than a second grade education issue never had a bank account, but she pulled her grandson to her and...
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Aug 6, 2013
08/13
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one difference between chicago and detroit. detroit is a one industry town. the president could make the argument if we bail them out it would help the automotive and all of these jobs. chicago the main industry is crime. and big safety budget and they don't have a money for budgets and union pressure. what happened? >> everyone is talking about chicago. it is in a similar boat to detroit. namely it spent too much and borrowed too much and cannot repay and pensions above all else, pensions are the killer. they have a teacher's union fun in collapse and four other pension funds have a liability of 19 billion. and what is ra m emmanuel going to do? he has to taken on the unions and beat back the pension and he will not get help from the state of illinois and he can't raise taxes they are sky high already and this is what you alluded to will not get a bail out from president obama. >> you don't think so. >> if the president helps detroit, he will have to help chicago and other cities that are hurting because of pension obligations. if, manual cannot get concessi
one difference between chicago and detroit. detroit is a one industry town. the president could make the argument if we bail them out it would help the automotive and all of these jobs. chicago the main industry is crime. and big safety budget and they don't have a money for budgets and union pressure. what happened? >> everyone is talking about chicago. it is in a similar boat to detroit. namely it spent too much and borrowed too much and cannot repay and pensions above all else,...
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it is in trouble like every state in the nation, but no shape like detroit. you want to be here in the summer in chicago. if i moved, i would probably move in the winter. stuart: it is a friday morning and summer. i see people ripping up contracts behind you and chucking it behind you. larry, the fed is still all about when ben quits or reduces printing, isn't it? >> where the dallas fed president the last couple of days talk about how complicated of a situation this is. that is looking the market little bit but not a whole lot. the stock index trading bejg me still sitting at all-time highs. wwe're thinking but when is bernanke going to be talking about it. that is when the market will really get spooked and lose a lot of ground. stuart: thank you very much, indeed, out there in chicago. the opening bell is ringing. we expect the (to be lower, and it is. this will be a slow trading session, a thin market, thinly traded, but expecting 30 points down in the first few minutes. i want to know about priceline. the stock has been up by about a half this year. had
it is in trouble like every state in the nation, but no shape like detroit. you want to be here in the summer in chicago. if i moved, i would probably move in the winter. stuart: it is a friday morning and summer. i see people ripping up contracts behind you and chucking it behind you. larry, the fed is still all about when ben quits or reduces printing, isn't it? >> where the dallas fed president the last couple of days talk about how complicated of a situation this is. that is looking...
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Aug 13, 2013
08/13
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in detroit, a judge has the states bankruptcy case. 18 billion liabilities. the national federation says optimism is out. 94.1. that is up six times of one point. more people are paying their credit card bills on time. that is the latest from the fox business network. giving you the power to prosper. ♪ dagen: international speedway corporation breaking ground last month on a renovation of flagship. they are trying to boost attendance. i finally get to interview you, lisa. why do this now? >> $8.2 billion tv deal. a lot to do and choices to make. we will make a better experience for them. dagen: attendance has been a struggle. ratings have somewhat stabilized. this deal was quite easy to put together. we have rebounded. our attendance is rebounding. it will appeal to a younger group. dagen: the seats will be wider. there will be more restrooms. >> we will have a lot more opportunities for sponsorship. there will be revenue coming in from the sponsorship side. dagen: there are 11 other tracks. at which of those tracks will you also be reducing capacity? >> we
in detroit, a judge has the states bankruptcy case. 18 billion liabilities. the national federation says optimism is out. 94.1. that is up six times of one point. more people are paying their credit card bills on time. that is the latest from the fox business network. giving you the power to prosper. ♪ dagen: international speedway corporation breaking ground last month on a renovation of flagship. they are trying to boost attendance. i finally get to interview you, lisa. why do this now?...